221-227 Pine StPortland, OR 97204

For Sale
$1,295,000

Historic Portland office building, 12,028 sq ft.

Overview

Added:
Dec 11, 2024
Days on market:
94
This three-story, 12,028-square-foot office building, constructed in 1898 and seismically upgraded in 1980, presents a unique acquisition opportunity in Portland, Oregon. Located at 221-227 SW Pine St, in the CX (Central Commercial) zone, this property sits on a 0.11-acre lot (APN R246038) and offers a blend of historical charm and modern functionality. Currently housing nine tenants across multiple units, the building boasts 32% occupancy. The ground floor features a successful, established restaurant tenant generating existing cash flow, complemented by a vacant, turnkey restaurant/bar space ready for immediate lease. The upper floors provide move-in-ready creative office spaces, with two tenants currently leasing over 1,800 square feet on month-to-month agreements. This offers flexibility for owner-users to implement various investment strategies, including restructuring leases for long-term revenue generation. The asking price is $1,295,000 ($107.67/sq ft), and attractive seller financing is available with negotiable terms. The building's prime location in downtown Portland ensures favorable access to public transportation and amenities. This presents a compelling opportunity for owner-users seeking a prominent presence in Portland's central business district.

Highlights

  • $1,295,000 asking price for a 12,028 square foot office building.
  • Seller financing options available.
  • Excellent location with convenient access to public transportation.
  • Ground floor retail space with a strong historical sales record.
  • Turnkey retail space ready for immediate occupancy.

Property Details for 221-227 Pine St

Property type
Other office properties, Office space
Square Feet
12,028 SF
Year Built/Renovated
1898/1980
Buildings
1
Stories
3
Lot Size (sq. ft)
4,792 SF
Units
9

Location Insight

City
Portland
County
Multnomah
State
Oregon
Latitude
45.5216332
Longitude
-122.6733454
221-227 Pine St, Portland, Oregon

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221-227 Pine St
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